[09/11/2022] MARKET NEWS: BANKING, OIL & GAS, SECURITIES SUPPORT THE MARKET

?? Vietnam Stock Market:
??PVS led the increase in the oil and gas group, with net cash at 18,000 VND/share. Therefore, the price range of 19-20 is a strong support level.
??HCM traded well during the day; breaking above 22 will confirm the pattern with a target price of 26.
??MWG saw good price gains after a series of declines. Thegioi Di Dong Chairman Nguyen Duc Tai and CEO Tran Huy Thanh Tung have just registered to buy 1.5 million MWG shares.
??HSG closed at floor price.
??PDR, DIG, NVL were the most heavily sold-off group during the day.

?? US Stock Market: The US stock market is still in a positive trading trend. The medium-term resistance for the Dow Jones index is the 33,000 point mark, and if this level is successfully conquered, the US stock index will escape its medium-term downtrend channel.

?? Some notes:
??The market is currently in an uncontrolled state and lacks market characteristics. Whether it stops falling or rises again depends heavily on whether large capital flows appear to accumulate stocks. At present, although selling pressure is not necessarily too strong, buyers have not yet appeared. What is important is that we need balance in trading and balance in trading psychology.
??A successful accumulation phase (continued price increase) usually involves a narrowing of liquidity. High liquidity during accumulation is often a dangerous sign, indicating that: The stock is facing significant selling pressure, and buyers are expending a lot of effort (reflected in increased liquidity) to prevent the price from falling.
??To increase the probability of success, the number of dominant green sessions (closing at the highest) in the accumulation zone should be greater than the red sessions. This sign indicates that buyers are gradually gaining dominance, and all selling pressure is absorbed by buyers.

?? Index forecast for November 9, 2022: Statistics show a tug-of-war between gains and losses, and in our view, the index could close in the green.

?? See details at: BANKS, OIL & GAS, SECURITIES SUPPORT THE MARKET

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